Panama Competition, Suez Lowers Price
The Suez Canal Authority in Egypt announced a lowering of ship tariffs to increase competitiveness with the Panama Canal, La Prensa news reported Thursday.

The Panama paper said the objective is to detour maritime trade between Asia and the United States, one of the principal routes the Panama Canal gives maximum attention.

Egyptian official Sayed Zakaria said the proposal will be presented in March during the Trans-Pacific Maritime Conference.

Panama Canal manager Alberto Aleman considered the tariff reduction a bit strange when they had just increased prices, and the Suez Canal is at full capacity.

The Suez Canal joins the Red and Mediterranean Seas with 101.3 miles of channel, which considerably reduced navigation routes between Asia and Europe.

The Panama Canal is 49.7 miles long, and takes care of the trade between Asia and the eastern coast of the US and Latin America.